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Market Overview

Fitbit Files $100 Million IPO


Fitbit on Thursday filed a $100 million IPO registration Thursday with the SEC with “FIT” as its proposed ticker on the New York Stock Exchange.

The company described its core platform as a “family of six wearable connected health and fitness trackers.”

“Wrist-based and “clippable” devices automatically track users’ daily steps, calories burned, distance traveled, floors climbed, and active minutes and display real-time feedback to encourage them to become more active in their daily lives,” according to the SEC filing.

The company has grown revenue from $14.5 million in 2011 with a net loss of $(4.3) million to $745.4 million of revenue in 2014 with EBITDA of $191 million.


Source: Fitbit S-1 Registration

The underwriters were Morgan Stanley, Deutsche Bank, Merrill Lynch, Barclays, SunTrust, Piper Jaffray, Raymond James, Stifel and William Blair.


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Posted-In: Barclays Deutsche Bank FIT Fitbit Merrill Lynch Morgan StanleyNews IPOs

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